As per Fact.MR, a market research and competitive intelligence provider, the Green Hydrogen Market revenue was estimated at US$ 4.5 billion in 2022 and are anticipated to grow at a CAGR of 31.3% from 2023 to 2033, according to a recently published Fact.MR report. By the end of 2033, the market is expected to reach a valuation of US$ 94 billion. The demand for green hydrogen in the transportation sector has grown considerably from 2018 to 2022 and is anticipated to further grow at a significant pace in the future. The power production sector has been at the vanguard of integrating green hydrogen in recent years.
For More Insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=Srep_id=8861
Green hydrogen has lately been in high demand as it can minimize carbon emissions. Additionally, it aids in meeting the growing energy needs. Its use is expected to increase over the next few years because it is a sustainable energy source. As more people become conscious of hydrogen's potential as an energy source, it is predicted that the global business will grow. A rise in environmental worries, which highlight the demand for green energy generation to lower emission levels, is another factor driving the industry's expansion. In addition, as nuclear electricity and green hydrogen are being used more frequently, the green hydrogen industry is growing.
Competitive Landscape
The key players operating in the market include Linde plc, Air Product Inc., Air Liquide, Cummins Inc., Engie, Nel ASA, Siemens Energy, Toshiba Energy Systems and Solutions Corporation, Uniper SE, and Bloom Energy.
Some of the recent developments in the Green Hydrogen Market are:
- In January 2023, Linde will increase the production of green hydrogen in California. To expand its hydrogen capacity, Linde will construct, own, and run the first of several proposed five-megawatt PEM (proton exchange membrane) electrolyzers.
- In May 2022, LSB Industries selected Bloom Energy, a US-based company, was selected by to build a 10 MW Solid Oxide Electrolyzer to produce green hydrogen at a large scale. It will help in the annual production of 13,000 metric tonnes of zero-carbon ammonia. The solid oxide electrolyzer from Bloom Energy, which operates at higher efficiencies than PEM and alkaline electrolyzer technologies, is ideally positioned to produce pure, affordable hydrogen at the size required for a net-zero economy. Compared to current low-temperature electrolyzers on the market, Bloom Energy's high-temperature electrolyzer uses less energy to produce hydrogen.
- In January 2021, Linde announced that it will Build, Own, and Operate the World's Largest PEM Electrolyzer for Green Hydrogen. Green hydrogen will be produced by the new 24-megawatt electrolyzer and supplied to Linde's industrial clients through its current conduit network. In addition, Linde will supply the area's refuelling sites and other commercial clients with liquefied renewable hydrogen.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RCrep_id=8861
Green Hydrogen Market Segmentation
- By Technology :
- Alkaline Electrolyzer
- Polymer Electrolyte Membrane Electrolyzer
- By Application :
- Power Generation
- Transportation
- By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Analysis of the Green Hydrogen Market in the United States
Projected to amass a valuation of US$ 19.9 billion, the United States' green hydrogen market is on a robust growth trajectory, boasting an impressive absolute dollar growth of US$ 18.5 billion. This market has demonstrated a remarkable Compound Annual Growth Rate (CAGR) of 37.3% between 2018 and 2022, and it is anticipated to continue its ascent with a CAGR of 29.9% from 2023 to 2033.
In a notable development in May 2022, LSB Industries strategically partnered with Bloom Energy, a prominent US-based company, to embark on the construction of a 10MW Solid Oxide Electrolyzer. This venture is geared towards the large-scale production of green hydrogen. The project's transformative potential is underlined by its capacity to generate an annual output of 13 thousand metric tonnes of zero-carbon ammonia. Bloom Energy's solid oxide electrolyzer stands out for its operational efficiency surpassing that of PEM and alkaline electrolyzer technologies. This efficiency translates to the production of pure, cost-effective hydrogen at the scale requisite for a net-zero economy.
A distinguishing feature of Bloom Energy's high-temperature electrolyzer is its ability to harness energy with optimal efficiency, rendering it superior to current low-temperature electrolyzers available in the market. This inherent energy efficiency aligns seamlessly with the imperative of sustainable production, offering a compelling solution for driving the green hydrogen revolution.
In essence, the analysis of the United States' green hydrogen market unveils a landscape characterized by dynamic growth prospects and strategic collaborations. With a steadfast commitment to innovation, efficiency, and sustainability, the sector is poised to redefine energy paradigms and play a pivotal role in shaping a greener and more sustainable future.
About Us:
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team : sales@factmr.com
Follow Us: LinkedIn | Twitter | YouTube
